LME suspends nickel trading amid price boom March 8, 2022 The London Metal Exchange (LME) has halted nickel trading for the rest of the day after prices doubled to a record $100,000 per tonne.
Private equity firm Bridgepoint unveils plans for London IPO June 29, 2021 Private equity firm Bridgepoint today unveiled plans to list on the London Stock Exchange, marking the latest boost for the capital’s IPO market. The buyout group, which has around €27.4bn of assets under management across equity and debt funds, said it will seek to sell around a quarter of its shares while a further 15 [...]
Soho House eyes $3.2bn valuation ahead of New York listing July 6, 2021 The parent company of the Soho House members club said it is targeting a valuation of about $3.2bn (£2.3bn) as it prepares to list on the New York Stock Exchange. The group, which filed for the initial public offering (IPO) under the name ‘Membership Collective Group’ in June, said it plans to raise as much [...]
M&S Bank to shut 29 branches as it moves services online March 4, 2021 M&S Bank will close 29 in-store branches from this summer after shifting services to online, as the pandemic has made the consumer preference of online banking more apparent. The bank will continue to offer general insurance, savings and loans online and by phone, but will now offer a new card-less payment option. M&S Bank CEO [...]
Top 10 most shorted UK stocks: Ailing Cineworld tops the list once more October 27, 2021 Cineworld, Metro Bank and Sainsbury’s are among the UK’s most shorted stocks, new analysis has revealed, as rising interest rates couple with a slower Covid recovery in some footfall-reliant sectors. The most-shorted company is Cineworld, which has had a rough ride during the pandemic after it was forced to close it 9,518 cinema screens during [...]
New: Mishcon de Reya plot IPO by end of the year April 28, 2021 Law firm Mishcon de Reya is set to float on the London Stock Exchange later this year after the firm’s partners voted to explore an IPO today. The IPO would see every member of staff become a shareholder in the listed business, the London-HQed outfit confirmed. Read more: Sign up to three daily City A.M. [...]
Pound rallies against the dollar on weaker than expected US jobs growth September 3, 2021 Hiring in the US economy in August plunged below expectations as the spread of the Delta variant of Covid across America weighed heavily on employer and employee confidence, prompting the pound to rally against the dollar. Figures released by the US Labor Department show nonfarm payrolls jumped by 235,000 last month, over 500,000 below analysts’ [...]
City Moves: Who’s switching jobs in the Square Mile today? September 29, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Lloyds Bank Lloyds Bank has appointed a new Regional Director for its London SME and mid corporate team, a role focused on bolstering businesses in the capital. With more than 15 years’ experience in financial services, Becci [...]
US investment giant Fidelity in talks over £100m Starling Bank stake January 29, 2021 US finance giant Fidelity is said to be in discussions over taking a £100m stake in Starling Bank amid surging interest in digital lenders. Fidelity Management & Research (FMR), which manages trillions of dollars in assets, is in advanced talks to lead a fresh round of funding worth £200m, Sky News reported. The US investment [...]
Swedish payments firm Trustly plans to go public imminently April 12, 2021 Swedish payments firm Trustly plans to launch an IPO in late April or early May that could value the business at €9bn. Trustly’s owner, buyout group Nordic Capital, is working with Goldman Sachs, JP Morgan and Carnegie on the IPO, Reuters reported in January. Trustly’s revenues were around €130m in 2019 and will be around [...]